Taking a look at ETHUSD's log chart, I was surprised to see that the price action was holding steady above support within its ascending channel. The channel support goes back to the $80 low back in March of 2020. If ETH can stay within this channel, $10k is definitely possible by year end. However if BTC continues to sell off further, ETH will likely follow...
A quick post that I thought was worth mentioning. Tron reset the RSI correcting ~13% since last night. When I saw that it was sitting on a confluence of support level from several different trends, I couldn't control myself and bought some more TRX at this 222 sat level. Bitcoin just had a little shakeout to $46750, but maintained it's bull flag. If it can show...
Taking a look at the Bitcoin daily chart, I cannot help but cringe at the picture I see. We had a very strong rally back to $50k after our 50% fall from the high at $65k. But you can see the price action rounding as it approaches the neckline of the previous high, which to me means the bulls are either exhausted or taking some time before moving on up. However, I...
I took a look at the Bitstamp ETHBTC chart and noticed that this current price action is almost identical to the one that played out in January of this year. As a matter of fact, we are at the very end of the fractal which suggests that next moves will be bullish. These are not always crystal balls, but patterns like to repeat themselves. Perhaps it's a glimpse of...
Get your Lambo pre-orders ready! It's alt season baby! Taking a look at the dominance charts for BTC, ETH, and the remaining alt pairs, you can see the transition that is happening. BTC's dominance is going down as ETH and the other alt pairs' dominance is climbing. You probably have noticed how well the alts were holding up in the most recent BTC dumps. This is...
BTC fell out of its bullish ascending channel which catapulted it from $29,000 to $50,000. It is currently testing the bottom of the channel which was support, but is now acting resistance. You can see the similar channel breakdown that Bitcoin completed in May to the left. Typically this results in further movement to the downside. Bitcoin has been very bullish...
Keep your eye on Ark. It has a beautiful weekly chart that appears to have broken out of a 4 year wedge. It's a low cap alt so entering early could be very lucrative as this price could really fly! Just relax, hodl, and let Ark do the rest. The height of the wedge is 42x its current price to give you an idea of the long-term potential.
What's up Ethereum fans?! Taking a look at the 4H ETHUSDT chart, you can see that the price broke the uptrend which is usually a sign of a bearish breakdown. The trend which was once support is now resistance and is currently rejecting the price. Not good. However, you can see from the original uptrend (dotted yellow) that ETH broke down from it, and moved on to...
TRX isn't on many radars as it has been pretty dormant the past couple years, but long periods of low volatility often lead to powerful spikes. You can see the falling wedge in pink that TRX has been bounded by the past couple years. But Bitcoin's latest surge has brought some life to alts and has TRX knocking on overhead resistance. You can see that the weekly...
I've been waiting for this breakout. The price could move quickly once we get past that white dashed resistance area.
Once crypto becomes mainstream and is used for everyday transactions, people will see the value of privacy coins. This is a great looking weekly chart on the verge of a bullish breakout. With alts jumping, it's only a matter of time until this monster wakes up after 4 years of hibernating. I think privacy coins will have a bright future and will be loading up here...
Bitcoin had a glorious pump today, shooting up more than $2,500 or ~6%. So is that an indication we move into full out bull-mode? Maybe. Maybe not. Wonder why I'm hesitant? Here's why: BTC has been moving in this ascending purple channel since July from the low of $28,800 to $48,000. If you've been hodling since the pump, you've made some serious dough. However,...
BTC is repeating a previous fractal it did yesterday. We will likely retest the previous support line (yellow) and confirm it as resistance before moving lower.
I love Ethereum here! ETH is breaking out of massive pennant on the daily and is repeating the same fractal it has completed twice before. There is a ton of room for growth. We have a bullish cross above the zero-line on the daily MACD With EIP 1559 upgrade happening in 2 days and the volume of Ethereum surpassing that of Bitcoin in the first half of the year for...
Bitcoin is breaking beyond two key downtrends that have kept the price at sub-$40k levels since entering in May and seems poised for a reversal. We have a triple bottom with the Bitcoin Greed/Fear Index at 10-Extreme Fear, making this an ideal opportunity to think like a contrarian and go long. I will be targeting $38k in the short term with a possible retest of...
Barring a BTC collapse, I think Ripple is a great buy at this price. Looking back to the beginning of the year, you can see that $0.60 acted as a key level of significance which was major resistance for about 5 months until the price action finally broke out. XRP is currently repeating the same fractal it completed in December 2020 as it catches support at $0.60...
I'm sure many of you are tired of seeing BTC dumping, but I think we might be nearing the end of the downward price action for the near future. Overall, BTC has dropped 35% since its April 14th high of $65,000 and this latest plunge has lost 28% within a week. We can see the dumps are getting shallower which might suggest seller exhaustion. Right now the price...
I decided to use the BTCUSD daily chart because I think it starkly depicted the reversal in momentum between the bulls and the bears. For the past year, BTC has been on a torrent bull run from $3,750 to $65,000. You can see that we consistently made higher highs and lows in price action and the MACD remained above the zero line for the entire run. However,...